Do you know this man?

You should… he is now in charge of the CFTC, the government agency that “regulates” gold and silver futures trading, now that our buddy Gary Gensler has retired. 
His name is Tim Massad and he will do absolutely nothing to enforce the rule of law or ensure fairly traded markets.


 

By Pining 4 the Fjords, TFMetals Report:

How do I know this?  Well, Tim Massad last worked directly for Geithner at the US Treasury department where he was best known for overseeing the $700bn troubled asset relief program, known as TARP, set up in 2008 to help prop-up ailing US banks following the financial crisis.   He also worked on managing the US Treasury’s investment in Citigroup.  Before joining the US Treasury as chief counsel for the Office of Financial Stability in 2009, Massad spent 25 years with law firm Cravath Swaine & Moore, where he represented a range of companies including investment bank Lazard and worked to standardize legal documents that allowed derivatives to be actively traded between counterparties.

So lemme get this straight:

1. Oversaw using taxpayer money to bailout bank’s gambling debts

2. “Managed” using taxpayer funds to prop up zombie bank Citi

3. Is a lawyer who represented investment banks

4. Worked to smooth-out the legal issues arising from the invention of derivatives… helped make it workable from a legal standpoint, in other words.

So if you wanted the archetype of a bankster shill/taxpayer nemesis, this would be your guy.  You know what I don’t see in any of this?  Any experience in Commodities.  Or in Futures.  Or in Trading.  But by all means, lets put him in charge of the Commodities Futures Trading Commission.  Senate confirmed his appointment earlier this year.

So we have every reason to expect that he will watch out for small investors and will ensure free and fair precious metals markets just as his predecessor did.  So meet the new boss…  when it comes to gold and silver, he’s the same as the old boss:

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And a bonus pic, illustrating the fine work we’ve come to expect of the CFTC in the metals markets.

 

 

 

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  1. FACTS:  Timothy F. Geithner(Jewish spouse: Carole M. Sonnenfeld) – Secretary of … Timothy Massad(Ashkenazi Jew) Gesler also Jewish.
     
    There is no room in the US financial system for Christians, Blacks or Hispanic? Doesn’t anyone find this disproportion group of one type troubling that all that are promoted are their own and insiders? This is not meant to be or is it Anti Semitic (so please do not read that into this comment), these are facts and I am having a difficult time understanding how everyone in charge like Bernanke, Yellen, Paulson, Geithner, Rubin, etc. are all jewish

    • Thank you for the replies, my point is, is it possible that Jewish people are the only people qualified to head up all governmental and non governmental agencies that are involved in financial matters that affect traders and US banking issues?  It is a question that given the facts bear some response and consideration. There is nothing here that is suggestive of anything anti semantic and it was never my intent.

    • Senate also approved Israeli Stan Fischer CEO of the Federal Reserve. Fischer will be in the position to send Israel money to make war on Iran, settlements in Palestine, whatever and send the bill to the US taxpayer. BTW, NBA commissioner Adam Silver and Donald Sterling are both Jewish. Maybe Sterling wants to sell the Clippers and Silver is giving him a way without pushing the sale price down. How bout the NV rancher, Sterling, Fischer and Massad are connected. Message. Don’t even think bout mentioning Fischer and Massad are Jewish or we will play the Bundy Sterling card against anyone who complains the Fed and the regulatory agencies are Jewish run.

    • Tucson,
      I never thought you were anti-Semitic in your original statement.  As an answer I will point to historical cultural norms….
      Clerical interpretations of the Bible throughout most of Western history (until the 1700′s) suggested that lending or borrowing money was against God’s will:

      “Ex. 22:25, If you lend money to my people, to the poor among you, you shall not deal with them as a creditor; you shall not exact interest from them.”
      “Deut. 23:19, You shall not charge interest on loans to another Israelite, interest on money, interest on provisions, interest on anything that is lent.” 
      “Psa. 15:1, 5  O LORD, who may abide in your tent?   Who may dwell on your holy hill?  … (those) who do not lend money at interest,  and do not take a bribe against the innocent.”
      “Luke 6:34, If you lend to those from whom you hope to receive, what credit is that to you? Even sinners lend to sinners, to receive as much again.” 

      In those earlier times commerce still needed occasional loans to conduct business, and those of the Jewish faith stepped in to fill those spots, first as goldsmiths which later led to the rise of the major Western banks, as their faith had no such restrictions. Once established they ingeniously formed political alliances with the governments that needed financing for their wars … soon they became dependent upon them. It was not until John Calvin made the modern distinction between “interest” and “usury” that the game slowly changed somewhat, but it was a bit late and the large banks were too well connected.

      As banking tends to be a “family business” the highest positions in the major banks always fell to family members (think financial Mafia). It’s not that other peoples are not capable or educated enough to preform the same jobs, rather the people choosing them are nominating the “stars” of the industry because they have position denied others. Essentially the industry has a cultural glass ceiling. 

    • Cyber, I like how Psalms 12:8 puts our friends in high places into direct perspective…
      KJV:  “The wicked walk on every side, when the vilest men are exalted.”
       
      I really like how the Complete Jewish Bible phrases it…
      “the wicked strut about everywhere
      when vileness is held in general esteem.”
       
      What should our response be… Psalms 9:20  “Put them in fear, O Lord: that the nations may know themselves to be but men. Selah.”
       
      This is stated rather lightly.  Should be read in context to get an even more powerful understanding.  
      I truly believe that these PTB fit into one of 2 catagories.  They either (foolishly) believe that they themselves are in complete control of the worlds diverse dilemmas, or they can see (but will never admit) that there is nothing that human intervention can do to solve any of this.  
       
       

    • Stanley Fisher ran the Bank of Israel from 2005-2013. He was with the World Bank, IMF and Citi before that. He is as connected as a person can get.
       
       

    • @cyberspacevoid   Yeah, God had this figured out from the beginning.  The usury that God forbids is the kind of interest that “bites” i.e. the type that is charged by the Fed to support its fiat based fractional reserve banking system.  That’s the type of interest that controls and impoverishes people and nations.  The interest on your bank account is a different kind of interest more like a rent payment and is OK.  See Parable of the Talents.  God’s money is gold, silver, precious stones, land, cattle i.e real things.  Bible is very clear about this.  These FRN’s we have now are not Biblical based money, but rather a great deception.  However, you’ll never hear that from the milk-toasts in today’s pulpits.

    • “Thought Police are here now and it’s a very slippery slope considering that a private comment in the privacy of your own home can have you stripped of your ability to own your business.”
       
      Indeed, but a catalyst is needed… such as a low-life scum-sucking back-stabbing money-grubbing bitch.  Money, power, sex, greed, treachery, bad manners… this story has it all.  Makes me wonder about the book and movie rights.

  2. De-fund the CFTC, since they are a disgraceful waste of tax dollars.  At least Bart provided a few laughs now and then.
    Over on ZH they report an emergency fed meeting was held yesterday.
    Another drive-by massacre may be in the cards. Don’t forget Mayday 2011 and how well it went for them.

  3. Is this a Sell signal while you can still get $20 an ounce for silver and $1300.00 for gold? Obama will appoint the right people to confiscate the metals that are remaining in due time with the barrel of a gun.

    • I celebrated this smash with a tube of barbers, a tube of great white sharks, a tube of maples, a tube of peregrine falcons and a tube of pegasus’.
       
      For confiscation, it will be far easier to steal 401ks than it will to beat down doors to fins a small pittance of metals. Under 5% of people stack so it would be an exercise in aggression more than it would an exercise in wealth confiscation.

    • I agree with Dirtlump …. 401k’s and IRA’s are the lowest hanging fruit. Even in the 1930′s while the Feds threatened fines and imprisonment the surrender of gold with a very few exceptions was essentially voluntary. I doubt they will bother most individuals as most of it would have already been soaked up out of the weaker hands and the rest will be well hidden. Making it illegal to exchange is another matter … better find like minded individuals now or a secure overseas repository.

    • I agree with everyone above. No need for a confiscation. They will recover the last of the silver when the general populace is so poverty stricken the lakes and rivers will puke up the hidden treasures for food, fuel and medicine.  When the last dime is gone, they roll up the tents and take the show to the Far East.  We will be eating mudpies by then.

    • “Under 5% of people stack so it would be an exercise in aggression more than it would an exercise in wealth confiscation.”
       
      It could also devolve into an exercise in bullet absorption.

  4. The CFTC was captured in the 1990′s after Brooksley Born resigned in disgust over the Greenspan, Rubin, Summers power play for the Banksters (on regulating derivatives trading). It has been downhill ever since then…and made much worse by HFT.

    “When I was chair of the Commodity Futures Trading Commission [CFTC], I became aware of how quickly the over-the-counter derivatives market was growing, how little any of the federal regulators knew about it.

    And also, we were seeing some very dangerous things happening in that market. There were some major fraud cases. There was use of over-the-counter derivatives to manipulate the price of commodities. And there were some spectacular failures by institutions that were speculating in the over-the-counter market with little or no restraint.”

    http://www.pbs.org/wgbh/pages/frontline/warning/interviews/born.html

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